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Wednesday, 30 March 11
CHALLENGER SIGNS OPTION AGREEMENTS TO PURCHASE FOUR COAL PROJECTS IN INDONESIA
 Challenger Signs Three Exclusive Option Agreements to Purchase Four Coal Projects in East Kalimantan, Indonesia
Challenger Deep Resources Corp.has announced that it has, through its wholly-owned subsidiary, PT Bestindo Energy, (“Bestindo”) entered into three separate Memorandums of Understanding ("MOU’s") which give Bestindo the exclusive right, for a period of thirty days, to purchase the shares of three separate private Indonesian companies which hold various coal rights related to four separate coal projects, according to news that posted in its web site.
Each of the coal projects is 100% owned by the respective private company and all of the projects are located in the Regency of Kutai, East Kalimantan. Each of the MOU’s provide for the subsequent execution of a Conditional Share Purchase Agreement (“CSPA”), which provides for staged payments of the purchase price over a period of four months in respect of one MOU and over a period of 24 months for the other two MOU’s.
Arni Bersaudara Coal Project
Pt Arni Bersaudara (“Arni”) is the holder of two contiguous IUP Exploration permits covering 3,039 and 2,874 hectares in the District of Muara Kaman. The IUP’s are approximately 40km north of the Mahakam River The Arni MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Arni for payments totaling $2,414,181 CAD. Terms of the payment include $84,215 CAD upon signing, $308,790 CAD within 6 months of signing the CSPA and the balance of $2,021,176 CAD after all the essential permits to bring the project into production are in place, or a maximum of 24 months from initial CSPA signing.
The target calorific value of coal is in this concession is around GCV 6,300 – 7,000 and 5,600 – 6,000 respectively.
Apriadi Bersaudara Coal Projects
Pt Apriadi Bersaudara (“Apriadi”) is holder of a KP PU (Mining Authorization for General Survey) covering an area of 930 hectares, which is currently being converted to IUP Exploration in the District of Samboja (AP1) and a SKIP (Exploration Permit Application) covering an area of 3,086 hectares in the District of Muara Kaman (AP2). The AP1 project is 10km from the coast and close to an independent haul road and port loading facilities which are under construction. The AP2 project is approximately 45km north of the Mahakam River and in close proximity to the Arni Bersaudara projects. The Apriadi MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Apriadi for payments totalling $2,077,318 CAD. Terms of the payment include $56,143 CAD upon signing of the CSPA , $112,287 CAD upon receiving IUP exploration permits for both projects, $224,575 CAD within 12 months of CSPA and the balance of $1,684,313 CAD due on the 24 month anniversary of the CSPA signing.
The target calorific value of coal ranging from 5000 GAD to 7000.
Putri Etam Coal Project
CV Putri Etam (“Putri”) is a private Indonesian company which is in the process of applying for an IUP Exploration and has successfully secured a Local Announcement letter from authorities. The application covers 100 hectares and is located in the Muara Badak district. The Putri MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Putri for payments totaling $84,215 CAD. Terms of the payment include $28,071 CAD upon signing and $56,144 CAD upon completion of the deed of shares transfer.
An additional agreement also provides that a royalty of US$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Wednesday, 12 June 13
INDONESIAN COAL PRICE REFERENCE SLIDES TO 2013 LOW
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Tuesday, 11 June 13
COAL: NO SIGN OF RECOVERY - GABRIELLA
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NEWCASTLE PORT SHIPPED MORE COAL WEEK ENDED 11 JUNE 2013
COALspot.com - Newcastle port in Australia has loaded 3,104,509 tons of coal for the week ended 0700 hours 11 June 2013, Newcastle Port Corp. ...
Tuesday, 11 June 13
OUTLOOK FOR CAPESIZES LOOKS GRIM, DESPITE FALLING IRON ORE PRICES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Things aren't looking all that rosy for the dry bulk market, despite a stronger volume of iron ore imports during the months of March and April, as ...
Sunday, 09 June 13
CFR SOUTH CHINA COAL SWAP IS UNDER PRESSURE
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average July 2013 delivery have lost 0.03 percent week on week but gained 0.07 pe ...
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- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- The University of Queensland
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Krishnapatnam Port Company Ltd. - India
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
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- Wilmar Investment Holdings
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- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
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- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- Parliament of New Zealand
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- PTC India Limited - India
- Thiess Contractors Indonesia
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
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